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News Release

Minister Kent Announces International Climate Funding

DURBAN, South Africa-- December 5, 2011 -- Today, Environment Minister Peter Kent announced that the Government of Canada is contributing $1.2 billion to support international efforts to help developing countries reduce greenhouse gas emissions and adapt to the impacts of a changing climate.

“Canada came to Durban to make a real contribution toward a global solution to this global issue; this signals that,” said Minister Kent. “We are hoping for an agreement that covers all emitters and providing supports for developing countries that can most use the help.”

“Canada wants to see real reductions in emissions and real results.”

Canada supports the 2009 Copenhagen Accord, which is a significant breakthrough in the global effort to address climate change. Our contribution of $1.2 billion in fast-start financing is an important way in which Canada is meeting its commitments.

Between 2010 and 2012, developed countries committed to provide up to US$30 billion in fast-start financing to countries that are the most vulnerable to climate change.

“I’m pleased that Canada is following through on their commitment to fast-start financing,” said Christiana Figueres, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC). “This financing is a key to moving forward with global action on climate change, and Canada’s contribution will go a long way in helping developing countries with their mitigation and adaptation efforts.”

Our fast-start financing focuses on three areas:

Adaptation by the poorest and most vulnerable countries

Clean energy

Forests and agriculture.

Canada’s contribution is for three years. An initial contribution of $400 million is already starting to produce results and today, the Government is announcing further investments of almost $600 million for 2011-2012 and 2012-2013.